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Banking & Finance

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Investor sells his 2.4 stake in Abu Dhabi Commercial Bank for $300 million

By Hilal Mir
June 17, 2021 5:00 am

    • The offering consisted of 164 million shares in the bank

    • The Abu Dhabi Investment Council is the largest shareholder in ADCB with a 60.2 percent stake

    An unnamed investor holding 2.4 percent stake in Abu Dhabi Commercial Bank (ADCB) has sold his entire stake in the lender for about 1.1 billion dirhams ($300 million).

    According to Bloomberg, the offering consists of 164 million shares in Abu Dhabi’s second-biggest bank, and the interest exceeds the size of the deal, according to terms. The seller wasn’t identified in the term sheet.

    The deal represents 2.4 percent of the bank’s market value, according to Asharq. The Abu Dhabi Investment Council is the largest shareholder in ADCB with a 60.2 percent stake.

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